Corn, cotton, and wheat were up; soybeans were mixed for the week. De-cember 2015 corn futures set a new 150 day low on Wednesday before re-bounding on Thursday and Friday to close up for the week. November soy-bean futures establish new 150 day lows this week at $9.39 per bushel. Soy-bean futures remain somewhat of a quagmire. Strong export and domestic demand provide bullish news, while large domestic and global ending stocks for the 2014/15 marketing year and the potential for increased planted acreage in 2015 fuel the bears. Continue reading at Tennessee Market Highlights.
All posts by Chuck Danehower, Extension Area Specialist - Farm Management
Tennessee Market Highlights
Please note that crop comments will be posted online Monday, March 16th at http://economics.ag.utk.edu/cropcomm.html.
FED CATTLE: Fed cattle traded steady on a live basis compared to a week ago based on limited numbers. Live prices were primarily $160 to $161 while dressed trade was mainly $259 to $260. The 5-area weighted average prices thru Thursday were $160.78 live, up $2.91 from last week and $259.09 dressed, up $9.09 from a week ago. A year ago prices were $147.92 live and $239.80 dressed. Continue reading at Tennessee Market Highlights.
Comments on March 10 USDA report and Profitability Update
Corn U.S. feed grain ending stocks for 2014/15 are projected lower with reductions for corn and barley. Corn use in ethanol production is projected 50 million bushels lower based on the new Grain Crushings and Co-Products Production report recently released by the National Agricultural Statistics Service (NASS). Reported corn use for ethanol for October through January implies a higher conversion rate than previously assumed. Continue reading comments on the march 10th USDA reports and an Profitability Update at Monthly Crop Outlook.
Tennessee Market Highlights
Corn, cotton, soybeans, and wheat were down for the week. Nearby corn continues to trade between $3.80/bu and $4.00/bu. This week soybeans reversed trend and are now poised to test market lows established in late January. May cotton futures dropped 3.5 cents from last week’s high of over 66 cents/lb. Wheat continues to fall as lack of price competitiveness on the global market continues to hurt exports. Since highs in late December wheat futures are down nearly $2.00/bu. Continue reading at Tennessee Market Highlights.
Farm bill: Who takes the risk and who makes decisions?
During winter meetings, I asked farmers, in regard to their operations, this simple question: “Who is the risk taker and decision maker?” From a producer standpoint, the answer is a resounding “I am!” However, a trend I have noticed in recent years is an over reliance on someone else to make decisions. Continue reading at Southeast Farm Press.
Tennessee Market Highlights
Cotton, soybeans, and wheat were up; corn was mixed for the week. Soybeans rallied this week partially due to lower than anticipated planted acreage estimates from the 2015 USDA Outlook Conference last week and the Brazilian trucker protests. Continue reading at Tennessee Market Highlights.
USDA Provides One-Time Extension of Deadline to Update Base Acres or Yield History for ARC/PLC Programs
Farmers Now Have Until March 31 to Update Yields and Reallocate Base Acres; Deadline for Choosing Between ARC and PLC also Remains March 31. Continue reading at USDA Extension .
Deadline for Base Reallocation/Yield Update February 27
The deadline for the Farm Bill Base Reallocation and Yield Update is Friday, February 27, 2015. Producers and landowners who have not made this decision at their Farm Service Agency (FSA) must at least get on an register or list at their FSA office. You would then schedule an appointment to come in and take care of this part of the farm bill. Contact your FSA office for more information and to get on the list. Failure to do so will result in no choice on base reallocation or yield update.